wallman
299 posts
msg #30758
- Ignore wallman |
1/22/2004 10:09:57 PM
ZUB,you're right about the volume on AEGN being low in the past,that's why with these tight bb squeezes like AEGN was in i like to see a volume jump like it showed on the 16th,with these it usually means there is more run to it,another example is DLGI which had good volume buildup on the 20th and 21st and at that time was at a 8 month low in bb width,it had huge vol today suggesting it can still go, also HIET today with 275k ave vol popped off a 12 mo low width with over 3 mil shares traded! NENG another big hit today was at 11 month low width with ave vol of 1 mil traded 8.3 mil today,so yes volume plays a major part in a stocks move,especially when they have been restricted so long within a low bb width
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EWZuber
1,373 posts
msg #30824
- Ignore EWZuber |
1/26/2004 4:50:41 AM
Looks like PAX could break a consolidation pattern before long. Selling volume still looks a bit high and stock recently sold off on a gap up as retail traders were set up by big money for a sucker play. IMO
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EWZuber
1,373 posts
msg #30832
- Ignore EWZuber |
1/26/2004 2:37:42 PM
Picked up some EELN again this morning @ $3.41 as it broke TL. Resistance.
http://ragingbull.lycos.com/mboard/boards.cgi?board=EELN&read=22994
Doing very well today. This has been a great trading stock.
PAX doing very well also.
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EWZuber
1,373 posts
msg #30841
- Ignore EWZuber |
1/27/2004 11:16:55 AM
Sold EELN @ $3.66 this morning. Ths stock is overbought on Hourly chart and is coming under pressure breaking short term Supporting TL.+7.3%.
Also EELN earnings coming up so probably a good time to exit. I am anticipating good earnings but don't like to gamble.
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txtrapper
548 posts
msg #30843
- Ignore txtrapper |
1/27/2004 11:56:39 AM
Zuber
EELN.....$3.85 and climbing @ 11:56ET
I'm still in.....I don't see any resistance until $3.90 on 10-21-03
TxTrapper
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txtrapper
548 posts
msg #30844
- Ignore txtrapper |
1/27/2004 12:00:23 PM
Zuber..
EELN at resistance @ $3.90 @ 10:59am ET, let's see what happens, either it will keep going higher on fall back to support.
TxTrapper
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txtrapper
548 posts
msg #30845
- Ignore txtrapper |
1/27/2004 12:02:23 PM
Zuber...
EELN....stalled $3.87 pulling the trigger, order filled @ $3.87...
TxTrapper
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EWZuber
1,373 posts
msg #30847
- Ignore EWZuber |
1/27/2004 4:23:04 PM
TxTrapper, Yea I pulled the plug too early today. I got too aggressive with the supporting trendline. Looking back on a more detailed shorter term ( 3 day ) 30 Minute chart I see where i made my mistake.
The 10 day chart lost too much detail.
Todays volume and moderate gains indicates a ton of sellers as EELN approaches the earnings announcement.
With about 50% gains from the bottom I'll bet many are locking in gains before a bad reaction can take a good chunk out of it. A bird in the hand...
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EWZuber
1,373 posts
msg #30848
- Ignore EWZuber |
1/27/2004 4:30:09 PM
IPI took off today. Up 11%. Unfortunately didn't have the capitol to get involved at the time.
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EWZuber
1,373 posts
msg #30864
- Ignore EWZuber |
1/28/2004 2:53:48 AM
GLGS...Looks prime for a move higher. It closed dead on short term support and above TL Res. on Daily chart.
Half hour chart shows a new short term wedge pattern formed after the initial breakout above Daily chart TL Res.
This one has been an excellent trading stock, IMO.
DIGL...Has been on fire. Volume going through the roof. Almost oversold on half hour chart and sitting right on TL Support. Looks like there might be a day trade here.
The SEC has decided to put pressure on to stop naked short selling. From what I have heard this has been a problem primarily with penny stocks and low priced stocks.
Running a momentum screen using RSI,
RSI(15) is above 75 and RSI(15) is below 95 and price is between .5 and 15 and Average Volume(10)is above 100,000 and Volume is above 100,000 and where Weekly Slow Stochastic(5,3) Fast %K crossed above Weekly Slow Stochastic(5,3) Slow %D within the last 2 Weeks and chart-display is weekly.
I found tonight that the screen returned several low priced stocks with huge volume and extremely bullish charts in the short term. Wish I had been checking this one more regularly.
For purposes of finding short covering ( if that is what is happening ) the screen could be better customized, maybe looking for volume and price moves.
The remarkable thing is that most of these are OTCBB stocks, where the problem was supposed to be the worst, and all the charts start to rally at exactly the same time and look unusually similar.
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